Chapter 14 - Government Employees’ Retirement Fund

7.1401 Purpose and intent.

(a) The purpose of the Government Retirement…

7.1402 Title of fund.

The fund shall be known as the “American Samo…

7.1403 Definitions.

As used in this chapter:(a) “Actuary” means a…

7.1405 Legislative changes.

(a) The Senate and the House of Representativ…

7.1410 Board of Trustees—Term of office.

(a) The responsibility for the proper adminis…

7.1411 Board of Trustees—Duties.

The Board of Trustees shall have, in addition…

7.1412 Executive Director—Duties.

The Executive Director shall be in charge of…

7.1415 Employment of an assistant director, staff and professional services.

(a) Subject to the approval of the Board, the…

7.1416 Indemnification

The Fund shall save harmless, indemnify and d…

7.1420 Members of fund.

The following employees shall be members of t…

7.1421 Persons ineligible for membership.

The following employees are not eligible for…

7.1430 Credit

(a) Credit for service prior to the operative…

7.1431 Computation of credit.

(a) The contributions required pursuant to 7.…

7.1433 Government contributions to Fund.

(a) The government shall make contributions t…

7.1434 Members’ contributions to the Fund.

(a) Each member of the Fund shall contribute…

7.1435 Prohibition of deductions from ineligible employees’ salaries.

An employee who is ineligible for membership…

7.1436 Individual accounts for each member.

(a) An individual account shall be maintained…

7.1437 Interest of members in Fund.

Each member shall, by virtue of the payment o…

7.1438 Transfer and attachment of interest prohibited.

The right to a retirement annuity, or refund,…

7.1439 Refund of contributions of separated employees—Return to employment.

(a) Any member whose employment is terminated…

7.1440 Withdrawals by employees prohibited.

An active member may not withdraw any of his…

7.1441 Retirement—Voluntary and mandatory—Elected officials may finish term.

(a) Notice. All employees must be advised of…

7.1442 Retirement payments.

(a) Each member shall receive an annual servi…

7.1443 Death benefits.

(a) Should a member in either an active or in…

7.1444 Investment of reserves exceeding current requirements.

(a) The reserves of the Fund in excess of req…

7.1444.3 Loans to the American Samoa Government.

(a) In accordance with the provisions of sect…

7.1444.4 Credit facility authorization—Assistance—American Samoa Medical Center Authority.

(a) In accordance with the provisions of sect…

7.1444.5 Loan to American Samoa Government—Renovations of Capital Improvements and Projects.

(a) In accordance with the provisions of sect…

7.1445 Conflicts of interest—Prohibited acts.

A member or an employee of the Board may not…

7.1446 Accounts and records.

An adequate system of accounts and records sh…

7.1447 Costs and expenses.

The costs and expenses of the administration…

7.1448 Actuarial surveys and valuations of the fund.

Every 5 years an actuarial survey and investi…

7.1448.1 Administrative costs—Procedures for payment.

All costs incurred to administer the Fund pur…

7.1449 False representation—Penalty.

(a) A person who knowingly makes any false st…